Well, when we want to write a review we must go into the details and mention the technical points of the book and its pros and cons specifically:
I have read some of the reviews. Some argued that the stuffs in the book is easy to find all over the internet, like kangaroo tails are hammers and shooting stars, big shadows are classic engulfing patterns and so on. That's right; but as a trader who just found his way into decent profiting after struggling for 5 years I must say that one mistake many make is they tend to brag about their system: fancy indicators on the charts, ellliot waves theory and so on.. But at the end of the day the goal is just to make money and what I found during these years is that the best way to make money is sticking to price action, support and resistance and trading higher time frames (H4 at least). Even the experienced traders can learn one or two good insights from the book that although they seem nothing special they are very helpful in filtering the bad trades for them, and also psychology part is very straightforward and practical. In summery here are the positive and negative points of the book in my view:
Positive Points:
1. This book is straight to the point and practical and very easy and fun to read.
2. The focus on candlesticks and price action (most of the refined classic setups mentioned there are great) for a novice trader instead for indicators is priceless.
3. The psychology part is also very direct and practical specially the pressure the author put on back testing (He even says back test my ideas first).
4. Author insisted that trading higher time frames are easier and more profitable to trade an that's 100 percent true.
Negative Points:
1. I don't agree with last kiss setup and wammies and moolahs (I think they are not as strong as the other setups because the focus is more on the zones instead of candlesticks in these two setups).
2. Author must mentioned the use of multiple time frame analysis in the setups for completing his ideas.
3. He must mentioned the importance of some news like NFP that may destroy technical setup in a part.
I think everyone must read this book but for novice traders it would be a great shortcut to profitable trading.
Well, when we want to write a review we must go into the details and mention the technical points of the book and its pros and cons specifically:
I have read some of the reviews. Some argued that the stuffs in the book is easy to find all over the internet, like kangaroo tails are hammers and shooting stars, big shadows are classic engulfing patterns and so on. That's right; but as a trader who just found his way into decent profiting after struggling for 5 years I must say that one mistake many make is they tend to brag about their system: fancy indicators on the charts, ellliot waves theory and so on.. But at the end of the day the goal is just to make money and what I found during these years is that the best way to make money is sticking to price action, support and resistance and trading higher time frames (H4 at least). Even the experienced traders can learn one or two good insights from the book that although they seem nothing special they are very helpful in filtering the bad trades for them, and also psychology part is very straightforward and practical. In summery here are the positive and negative points of the book in my view:
Positive Points:
1. This book is straight to the point and practical and very easy and fun to read.
2. The focus on candlesticks and price action (most of the refined classic setups mentioned there are great) for a novice trader instead for indicators is priceless.
3. The psychology part is also very direct and practical specially the pressure the author put on back testing (He even says back test my ideas first).
4. Author insisted that trading higher time frames are easier and more profitable to trade an that's 100 percent true.
Negative Points:
1. I don't agree with last kiss setup and wammies and moolahs (I think they are not as strong as the other setups because the focus is more on the zones instead of candlesticks in these two setups).
2. Author must mentioned the use of multiple time frame analysis in the setups for completing his ideas.
3. He must mentioned the importance of some news like NFP that may destroy technical setup in a part.
I think everyone must read this book but for novice traders it would be a great shortcut to profitable trading.